In the San Diego area, as reported by a real estate agent, it is becoming more and more difficult for home buyers due to the amount of cash buyers on the market. There are a few ways you can get your offer seen and even chosen by home sellers.
Some homebuyers have noticed when they put an offer on a home in the San Diego area, there are in some cases between and 40 other offers. It can be difficult to have your offer even seen if you do not know how to get it in front of the homebuyers eyes.
What you should do:
1. Hire a professional real estate agent
The main reason to hire an expert is that they have been in the business and know what home buyers are looking for in the way of offers. Along with this, they can also help you with creating your offer.
2. Cover Letter
With your offer, always include a direct cover letter. Of course, your real estate agent will be able to help you create a dramatic cover letter that will catch the eyes of the home seller. You have to make a connection with the home seller and one that will hopefully, give you an emotional edge.
3. Things to add to the Offer
If you can add a video, this will help the home owner put a face with the offer, which is a great edge.
You should also include things like your pre-approval letter as well as information ensuring you will be able to close on time. The home buyer needs to feel as comfortable as possible with you as a person instead of an impersonal letter that makes them feel like they are talking with a robot or a company.
4. Grab attention
Just as with a resume and cover letter for employment, you are going to have to grab the home seller’s attention and get yourself noticed among the other offers.
If you are looking for help finding your dream home or making offers, contact a professional Realtor today at 888-865-5055.
Five remodeling projects that may not pay off at closing!
When you are getting your house ready for sale you may want to do a bit of remodeling to help add more value to your home. The problem is some remodeling projects may not pay off well and may not raise the value of your home enough to compensate for the money and time spent in the process. Some upgrades are not worth the time and expenditure; keep reading to see the top five bad remodeling items.
Luxurious bathrooms and kitchens may seem like a great idea to help add more value to your home. a spokesperson for the National Association of Realtors, Stephanie Singer stated, "People should be careful about over-improving for their neighborhood" and went on to say, "If you’re in a neighborhood with traditional kitchens, and you put in a Viking stove and granite countertops, that’s fine. But keep in mind that buyers probably aren’t going to value that to the extent that you do." It is best to check out other homes in your neighborhood, you want to stay with what is standard without going over the top to help sell your home.
Inventing a home/office sounds great for those that work out of their home. However, making your bedroom or other room smaller to invent a home/office will not pay off in the end. Using space from other rooms will not give you a big boost at closing. In most cases, this project will only give you back around half the cost of inventing the room in the first place.
If you do not already have a swimming pool in your back yard, do not add one. Not everyone loves the idea of the time and expense of caring for a pool and those with small children may turn away even faster. This is kind of a coin toss upgrade. Some people will love the idea while others will want to find a home without a pool. Just remember the cost of the swimming pool and if you really think it is worth the risk.
A new roof may seem appealing especially with all the new materials that can make your home stand out. On the other hand, most homebuyers only look at a roof as a necessity and not something they want to add to the price they wish to pay for a home. Of course, if the roof needs repaired, fix it, but do not go all out and add cedar shakes or other expensive roof materials.
Dramatic renovations are not always a draw for homebuyers. There are all kinds of things you can add to your home that will provide you with comfort such as converting your attic to a game room, your basement to a wine cellar, or even an elevator to the second floor. These may be great for your family, but not everyone wants these extras. Some projects may help with the value and selling points of your home, while others may seem a bit extravagant.
Singer stated, "Remodeling a home is a personal decision anyway, so sometimes there are projects you just want to do for yourself" and went on to say, "You do have to live in the home; you’re not always thinking about resale. Is it a worthwhile project for you? Is it going to increase your enjoyment of the house?"
If the remodeling project will make you more comfortable and you are not considering selling your home, then do the project. On the other hand, if you are only considering remodeling to add value, then forget the idea.
And call one of our San Diego Homes experts at (888) 865-5055 to give you some helpful suggestions on how to prep your home for selling in today’s market.
In California, the top selling United States master plans in 2011 included in 4th position Irvine Ranch in Orange County, Otay Ranch in 21st in Chula Vista, in 38th position you will find Harlan Ranch in Fresno, Sun City Shadow Hills in 42nd in Indio, and in 47th is Carmel Valley in San Diego, Westpark in 48th in Roseville, Valencia in 49th in Los Angeles, and in 50th position is Del Sur in San Diego.
- Irvine Ranch developed by The Irvine Company sold 764 properties.
- Otay Ranch developed by Otay Ranch New Homes/Baldwin & Sons sold 242 properties.
- Harlan Ranch developed by Wilson Homes sold 175 properties.
- Sun City Shadow developed by Pulte/Del Webb sold 165 properties.
- Carmel Valley developed by Pardee sold 147 properties.
- Westpark developed by Westpark, LLC sold 146 properties.
- Valencia developed by Lennar/Five Points sold 145 properties.
- Del Sur developed by Standard Pacific/IHP Capital Partners sold 142 properties.
Home Pricing is Key
Peter Dennehy, vice president at John Burns stated, "The bottom line is" and went on to say," The things that are selling are priced affordably…If you’ve got the right price and a nice, clean project, then people start to respond."
New home sales are a bit higher than what was seen in 2010. The figure for December of 318 units is quite a bit below the figures seen during the boom such as in September of 2004 at 1,640.
If you are in the market to buy a new home contact one of our San Diego Homes experts at (888) 865-5055 today and receive VIP Service!
At the end of 2009, as reported by Apple, 40 million people had an iPhone in their possession. This is why you will find so many different apps available; to ensure that all individuals that use the iPhone can find all the resources they need at a touch of a button.
The good news is for homebuyers, that a new iPhone is making the scene with promises to those in the buyers market a simple way to find a new home.
Realtor.com Home Search iPhone App
The iPhone app, "Home Search" iPhone app from Realtor.com provides users with access to 4 million homes across the nation that updates new listings every fifteen minutes. According to their website, the new app will help users that more to find more specific information, wish to make an offer on a listing, along with contacting the listing agent through the "ask a question" button on the app
For those that want to see the property in person, the app even offers an "Open Houses Nearby" tab that will show all the open houses within a twenty mile radius. The app even provides a map of the area and will guide you directly to the home via the embedded GPS tool.
All homebuyers will be able to search the listing by the size of the home, price, location, or other factors. The app actually pulls the home listings from the network of over 900 multiple listing services with updates every 15 minutes including any and all price changes.
The app works with iPhone 3.0 or higher and the iPod Touch.
Now, homebuyers will have a tool to help them find their dream home. Once you have a list of homes you would like to see that may not have an open house, contact one of our professional realtors, we would love to help you find your dream home.
So if you want to view San Diego Homes, down load the new app or call one of our highly knowledgeable San Diego Real Estate Agents toll free at (888) 865-5055 and start the journey to owning your new dream home.
For homebuyers looking for a bargain there are enticing markets all across the nation. In the following cities, reports show the prices have dropped by double digits during the last year.
1. Stockton, California
Stockton along with Vallejo, Fresno, Modesto, Merced, Bakersfield, Madera, and Riverside were the hardest hit when the real estate bubble burst. Last year in Stockton, home prices decreased 40.19% due to foreclosures on the market.
With Stockton, the area is close enough to the San Francisco Bay Area that it offers a few advantages that are not seen in other areas of the country. Those looking for affordable homes outside the bay area but close enough to commute are buying up the homes. When prices here become stable, Stockton will more than likely have affordable homes instead of rock bottom prices.
2. Naples, Florida
Naples at one time was hot on the market due to the energetic art scene as well as the Everglades. However, the real estate bubble burst and prices in 2011 declined 32.87%, which now offers bargains to homebuyers that want to live in a beach town.
3. Las Vegas, Nevada
Las Vegas was another area in which investors flocked during the boom. Now, the hype has died down and prices declined 32.60% in 2011. This may be the best bargain market as Las Vegas is on the top foreclosure markets as reported by RealtyTrac.
4. Ft Lauderdale, Florida
One time known as the spring break destination, Ft. Lauderdale has changed its image to a pedestrian friendly community offering unique shopping, Old Florida communities, and a vibrant nightlife. Prices of homes in this area fell 25.95%.
5. Miami, Florida
Tropical weather, vibrant nightlife, and beaches are the attractive features found in Miami, and with the home prices down 24.15% – it is a bargain hunters dream come true.
6. Napa, California
Prices during the boom were pretty much out of sight in Napa, as this is a very sought after area of California in wine country. Now, these luxurious million dollar homes can be purchased at 20.11% below the price last year.
7. Phoenix, Arizona
Investors in Phoenix are willing to bargain since the bubble burst. For those that love the summer like weather and all kinds of outdoor activities, the drop of 18.85% will certainly help you find that dream home at a huge bargain.
8. San Diego, California
San Diego may be one of the most beautiful places to live offering summer like weather year round, the beach, family activities, and so much more. Home prices in 2011 dropped 18.03% allowing homebuyers the opportunity to find a home within their budget and still live in the prestigious area of the city.
9. Detroit, Michigan
Unemployment, job losses, and the burst of the real estate bubble caused home prices in Detroit to drop 16.42% in 2011 due to foreclosures. The city is revitalizing and restoring many of the homes as well as providing a unique blend of new developments and historic areas.
10. Washington, D.C.
Washington D.C along with other commuter areas in West Virginia, Virginia, and Maryland may be the place you desire for your bargain home. This area of the country offers one of the lowest unemployment rates in the nation along with culture and a vibrant nightlife. Home prices here dropped 12.5% in 2011, making it a great time to purchase.
Time to Buy?
While inventory is up, prices are down and mortgage rates at historic lows this is a great time to start looking at the available San Diego Homes for sale with one of our highly knowledgeable San Diego Real Estate Agents. Call today (888) 865-5055 toll free to start looking for your new Southern California Dream Home.
Predicting the way the real estate market is headed in 2012 is not simple. Of course, this will stop analysts at investment banks and financial institutions from predicting their ideas.
The recession is still present, a possible economic meltdown in Europe, and the US presidential race all point to a dire real estate market in 2012; however, hope is still present according to analysts. A complete recovery is not close but there are a few indicators that are on the positive side.
What to look for during 2012 includes:
Increase in rental properties – In 2011, there were more rentals seen in the market and that trend will be present in 2012. Vacancy rates for the third quarter of 2011 showed a decrease with a nationwide average of 5.6 percent with an increase in rentals of 3.6 percent.
Developers noticed the trend, which brought construction of rental properties up 33 percent across the nation during the 3rd quarter of 2011 with 48 million new properties.
Owning and buying rental property is a good investment for 2012 as the prices are still low and the demand is high.
Shadow inventory – The threat of decreased property values and more homeowners being underwater are at the top of concerns and place more homes in what is known as shadow inventory. Shadow inventory are homes that have been foreclosed but not on the market, homes under foreclosure, and homes in which the homeowners cannot keep up with mortgage payments. These three factors will reduce property values even more and lower the demand of buyers.
Short Sales Rise – Analysts have stated that home prices will be on the decline during the first 6 months of 2012. This will put homeowners underwater, which often causes people to default on their mortgages. Due to this, banks will suggest short sales to their mortgage holders.
Europe financial meltdown – if this crisis continues it will have a large effect on the American economy. The reason is that exports are close to 2 trillion dollars each year from the US to Europe. If Europe goes into a recession, the demand for American goods will decline which will lead to lower demands for office and industrial space in the US.
Unemployment – The unemployment rate of course has quite a bit to do with the overall real estate market in the United States. Analysts believe the average will remain high put do believe improvements will be seen – slow and steady. December 2011 saw a three-year low of 8.5%, which is a good sign. It is estimated by analysts this number will soon be 7.5 percent. If the job market improves, then housing markets in those areas across the nation with lower unemployment will also improve.
Commercial Real Estate – companies did not expand in 2011 so commercial properties saw a decline during the year. Steve Hentschel, head of Real Estate Banking at Gleacher and Company stated, "There will be a continued emphasis on major market 24/7 cities that have global appeal." The cities predicted to see growth in 2012 include Chicago, Atlanta, San Diego, and New York.
San Diego Homes Outlook
The San Diego homes outlook is looking much better. San Diego may have a ways to go, but things are certainly looking up. As noted by PricewaterhouseCoopers and the Urban Land Institute in their report, Emerging Trends in Real Estate 2012 Forecast, San Diego is listed in the top ten "real estate markets to watch in 2012" and went on to explain, "San Diego benefits from the near-perfect year-round weather, which helps attract talent pools to local biotech companies, as well as a steady stream of upscale retirees."
With historic low mortgage rates this could be your best time to start looking at all the available San Diego homes for sale with one of our helpful and courteous Realtors. Call (888) 865-5055 toll free today!
The Urban Land Institute recently reported that San Diego was ranked in 10th place on their list of real estate markets to watch.
On Urban Land’s Institute 32nd yearly Emerging Trends report, which is based on interviews taking with industry experts, the company stated that coastal markets will do better than other areas of the United States, which includes the San Diego area.
On the other hand, during the convention held in Washington along with those on the internet, experts stated that no market is doing well at this time.
Jonathan Miller the author of the report stated, "We’ve been living large in a time of more," and went on to say, "In the end it all resulted in a lot of losses and some major flops. As predicted last year, 2010 would be the bottom for the commercial real estate market. In fact, we think that’s happened. Next year is, after a period of more-more-more, we’re entering this period of less — the ‘Era of Less.’"
The ranking system used a scale from 1 to 9 with 1 being "abysmal" and 9 being "excellent." San Diego ranked 5.63 and last years report had San Diego with a ranking of 5.04.
The state of Washington was ranked in 1st place, however, the investment score was only at 7.01.
Stephen Blank, Urban Land Institute main researcher and adviser of the study stated, "The transition from more to less will be difficult and it will involve getting used to a smaller real estate industry," and went on to say, "Harsh realities aside, real estate is coming off the bottom with improved prospects across all markets."
The rankings of top ten markets included:
- San Diego – 5.63
- Los Angeles – 5.84
- Houston – 6.02
- San Jose – 6.08
- Seattle – 6.09
- Boston – 6.20
- Austin – 6.29
- San Francisco – 6.34
- New York – 6.56
- Washington – 7.01
The rankings are based on viewpoint for multifamily and commercial investment.
The overall evaluation for San Diego
"San Diego’s story largely copies that of Los Angeles. These two markets, not surprisingly, can track closely together. But San Diego does not rate LA’s gateway status, lacking a major port or international airport hub like LAX."
"’Traditionally, the local economy creates startup jobs, but doesn’t retain headquarters. When companies get large, they leave,’ [stated an interviewee]. For global and domestic business, the city sits just outside primary jet ways, making travel a pain."
"As is the case everywhere else in Southern California, housing prices have dropped from stratospheric levels, savaging mortgage holders. In particular, downtown condos are badly oversupplied. Demand builds back for housing in better neighborhood: more buyers with cash want to take advantage of market bottom near Pacific coastlines."
"What’s not to like about arguably the country’s most desirable climate? Public-company homebuilders buy relatively cheap residential land to prepare for an eventual upturn. On the wobbly retail front, put a hold on any more lifestyle centers."
If you want more market information contact the San Diego Homes Experts Toll Free at (888) 865-5055 today!